Tim Peterson

VP of Mortgage Lending

3020 Woodbury Dr, Suites LL1 & LL2, Offices A & C, Woodbury, MN 55129
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NMLS: 268716

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TestimonialsCustomer testimonials Read more

Everything went just the way I was told it would. Without help on all of the paperwork I would have given up on buying the house. Thanks for all the help. PS because of the hard work and diligence of Guarantees Rate we got to close 12 days early which made my wife very happy as well as myself.

Charles G. | August 2018

Tim Peterson was awesome to work with really straight to the point reply’s fast really great service!

Dominick K. - July | 2018

All of my questions were answered in a timely manner!

Nicole G. | May 2018

I just wanted to follow up with everyone and say a huge THANK YOU to all for the help everyone put into this to make this possible. Staci and I are extremely excited to have a home of our very own. We have already started moving in and still cannot believe it is ours. I am very impressed with everyone's efforts to allow us to meet our closing date, especially with the short time frame that we had. It was a pleasure working with everyone and it made this process much less stressful than it could...

Dayne C. | November 2017

Tim and his crew were great to work with. The communication was used very well and they completed tasks quickly.

Grady R. | November 2017


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Tim interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
I have been in the mortgage industry for just over 23 years as a mortgage loan officer….
Who is your typical customer and what questions do they typically have?
My typical customers are both first time home buyers and move up buyers who are looking for excellent customer service and a smooth transaction.
What specific steps do you use to help your customers find the best home loan for them?
In order to find the best home loan for a customer I will spend a fair amount of time simply discussing their current and future mortgage/financial goals. The borrower’s financial goals for the next 5-10 years will generally determine which mortgage loan program is best for them.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
It is totally subjective to the borrower’s current and future financial goals.
What can borrowers do to insure a smooth mortgage underwriting process?
Communication is the key to a smooth transaction. Staying in touch with your agent, mortgage loan officer and home owner’s insurance agent to make sure those professionals have the information and documentation timely is extremely important.
Tell us something that makes you unique or something wacky, yet interesting about you?
I co-founded a veteran charity called Time on the Water in 2014; www.timeonthewatermn.com. The mission of the program is to get 35-40 veterans out on the water fishing and relaxing. It’s a small way of saying thank you for their service.

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